Philippine lawmakers plan to strengthen the country’s anti-money laundering legislation through a new amendment that could introduce stricter measures targeting online gambling operators.
The amendment to the Anti-Money Laundering Act (AMLA) was proposed by Senator Joel Villanueva, who emphasized that the changes are necessary to adapt to the rapidly evolving financial landscape and the increasing use of digital financial services and virtual assets.
If adopted, the amendment will expand the list of businesses subject to enhanced AMLA requirements, including online gambling operators, virtual asset service providers, and other types of enterprises.
The legislation will also introduce additional customer due diligence and reporting requirements, with stricter sanctions imposed for violations of the new rules.
On the reform, Villanueva stated: “Sustained reforms are necessary not only to maintain compliance with international standards, but also to safeguard the credibility and resilience of the Philippine financial system.
“Money talks, but dirty money whispers usually through complicit entities. We need a tougher law to catch up with the criminals trying to cover their illicit financial tracks.”
The Philippines was added to the Financial Action Task Force (FATF) grey list in June 2021 and was finally removed in February 2025 after completing its action plan to address gaps in its AML enforcement strategy.
According to Villanueva, the proposed changes will implement FATF recommendations calling for expanded investigative powers, stronger supervision of companies covered by national AML laws, and faster enforcement following violations.
Under the proposals, the Anti-Money Laundering Council (AMLC) will receive enhanced powers to monitor and respond to suspicious illegal activity, including the authority to suspend transactions and freeze assets when necessary.
Cracking down on illegal gambling has become a key priority for Philippine senators following criticism of several agencies, including the Cybercrime Investigation and Coordinating Centre (CICC), for failing to shut down illicit gambling operations.
At a Senate hearing last month on proposed changes to the country’s online gambling laws, CICC confirmed its collaboration with the Presidential Anti-Organised Crime Commission (PAOCC) to strengthen oversight and enforcement.
According to the Philippine News Agency, CICC has been tasked with preparing case files for PAOCC, the lead authority responsible for combating the black market in the country.
In a statement, CICC said: “This partnership proclaims CICC and PAOCC’s commitment to spearheading the abolition of illegal online practices nationwide, persisting with the goal of purging the digital landscape and bringing the perpetrators to justice to a reputable and guarded online environment.”
#Philippines #AML #AntiMoneyLaundering #GamingRegulation #OnlineGaming #Compliance #FinancialCrime #RegulatedMarkets #GamingIndustry
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